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Luxury brand growth in China add to social status of Chinese consumers

01
Apr '08
Coach Inc, BMW Group, Audi AG, the luxury carmaker owned by Volkswagen, the Swatch Group Ltd and OmniaLuo Inc, are just a few of the brands that are succeeding based on understanding China's consumer needs. Hyundai is refurbishing its brand image to a new luxury car to increase market share and appeal to the consumer's desire for high-end brands.

China-AsiaStocks.com, an investor and industry portal China-Asia sector within Investorideas.com, reports on China's growing appetite for luxury goods from fashion, to cars, to jewelry and how both China's domestic and established well-known foreign brands are meeting the increasing demands. With a rising number of millionaires and a growing middle class, China is poised to become the second biggest consumer of luxury goods by 2015.

The fashion industry in China is changing rapidly, as Chinese consumers want to make purchases that reflect their newfound success and social status.

China's International Clothing and Accessories Fair "CHIC 2008," held in Beijing March 28 - 31, 2008 is attracting some of the best in the fashion industry. OmniaLuo Inc, a domestic China-based company that designs, markets and distributes the luxury women's apparel brand "OMNIALUO," will be exhibiting at CHIC 2008 as part of it growth and expansion strategy.

As an award-winning domestic brand designer, Cindy Luo, OmniaLuo Chairwoman and CEO feels she has her finger on the pulse of the new breed of luxury consumers in China, commenting, "We see many luxury brands including Dior (News, Market) and Louis Vuitton entering the Chinese marketplace to expand market share, selling to Chinese consumers.


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